Originally Posted by
katsup
$20,000 gross payments triggers a 1099. I have heard of people getting them for less, probably cause they received paypal payments which put them over the limit.
It’s 200 transactions and $20,000 through the financial processor regardless of the sales platform. So, 200 transactions, 150 ebay, 20 FB, 10 BF, 20 back alley or wherever and $20,000 in sales. Heck, you can 1 transaction for $25,000 and not get a 1099 or 300 transactions and not get one.
Again, it’s the payment processor, PayPal, Zelle, Square etc and now eBays in on if your a ‘managed payments seller’.